Pacer Advisors Inc. Grows Stock Holdings in SLB Limited $SLB

Pacer Advisors Inc. grew its position in SLB Limited (NYSE:SLB) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,031,506 shares of the oil and gas company’s stock after buying an additional 179,259 shares during the quarter. Pacer Advisors Inc. owned 0.40% of SLB worth $309,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fearnley Asset Management AS purchased a new stake in shares of SLB during the fourth quarter worth approximately $8,574,000. Vaughan Nelson Investment Management L.P. purchased a new position in SLB in the first quarter worth approximately $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SLB by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock worth $126,303,000 after acquiring an additional 128,660 shares during the last quarter. Cibc World Market Inc. grew its holdings in SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after acquiring an additional 447,667 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in SLB by 65.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after acquiring an additional 81,045 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Price Performance

SLB stock opened at $49.58 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The business has a 50 day simple moving average of $50.43 and a 200-day simple moving average of $50.80. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The stock has a market capitalization of $73.59 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 3.27 and a beta of 0.73.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the firm posted $0.74 EPS. SLB’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. SLB’s payout ratio is currently 57.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SLB shares. Piper Sandler raised their price objective on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 27th. BMO Capital Markets boosted their target price on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Citigroup dropped their target price on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. JPMorgan Chase & Co. lifted their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Raymond James Financial lowered their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

SLB Company Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.